The deal is worth $2.5 million, a source told ESPN.com.
Prospal, 36, signed with the Blue Jackets in July and has nine goals and 24 assists in 53 games with Columbus. He has the second-most points and is tied for third in goals on the Blue Jackets.
Prospal, from the Czech Republic, has played for seven teams in more than 14 seasons in the NHL. He has 236 goals and 477 assists in 1,031 career games.
Information from ESPN.com's Pierre LeBrun and The Associated Press was used in this report.